Amerityre Acquires Manufacturing Assets From Kik Technology, Inc.

BOULDER CITY, Nev., March 17 /PRNewswire-FirstCall/ -- Amerityre Corporation NASDAQ: AMTY, a leading developer of polyurethane tire technologies, today announced that it has acquired a significant portion of the manufacturing assets of Kik Technology, Inc. ("Kik"), a well known manufacturer of polyurethane foam tires. The assets acquired include tire models and molds used by Kik to produce low-duty cycle polyurethane foam tires. With the sale of these assets, Kik will cease business operations.

"The acquisition of the models and molds provides Amerityre with the capability to produce a broader range of products to better service the low-duty cycle tire market," commented Dr. Gary N. Benninger, Amerityre's President and Chief Executive Officer. "With this expanded variety of tire products and sizes, Amerityre will now be able to offer its customers a Flatfree(TM) tire for every application. This is a great addition to our foam tire product line and we anticipate it will have a positive impact on our annual revenue. For its fiscal year 2006 (February 1, 2006 to January 31, 2007) Kik reported foam tire product sales of $1,857,666 and $937,645 for the nine month period ending October 31, 2007," he added.

Also announced, William Knooihuizen, Kik's former president, has joined Amerityre in a senior account management position. "I am looking forward to working with the Amerityre management team to integrate the Kik line of tires into the Amerityre product lineup. I am also happy to remain in a position to help Amerityre support the former Kik customers that have been so loyal over the years," commented Knooihuizen.

"Bill will certainly add the continuity that will be required to make a smooth transition," added Benninger. "We are happy to have him on the Amerityre team."

For more information on Amerityre, visit its website at http://www.amerityre.com

This release may contain statements that are forward-looking. Such statements, including those related to the prospects for and/or the benefits of Amerityre's polyurethane foam tire business are made based upon current expectations that are subject to risks and uncertainties. Such risks and uncertainties include the factors discussed in our Annual Report on Form 10-K for the year ended June 30, 2007, as well as Forms 10-Q and other filings with the Securities and Exchange Commission. Amerityre does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information.

     Company Contact:          Customer Service:          Sales:
     David P. Martin           Melissa Sitko              William Knooihuizen
     dpmartin@amerityre.com    msitko@amerityre.com       knooi@amerityre.com
     (702) 293-1930 x121       (702) 293-1930 x 125       (760) 271-6844